The client is a startup which provides an inter-ledger solution to enable the distinction between payment providers and digital wallets/mobile money services across Europe and Africa.
The company enables payment providers, digital wallets and mobile money services to set-up pay-on-demand channels for streaming payments without the need of establishing or maintaining corresponding relationships in form of nostro/vostro accounting.
An inefficient traditional money exchange system
Payment transfer had to be routed through a series of trade counterpart
High complexity due to multiple interdependencies
Fragmented system of silo-ed network
Patchwork of centralized network
Transactions relay information through a network of correspondents
Lack of interoperability
Expensive private remittance channels
Disparate technologies, systems of record, messaging and rules
Slow processing that took 4 to 7 days
High processing cost
Time consuming reporting processes
Lack of data quality/ non-access to data
The client wanted to sign-up with Gateway Digital’s Product Engineering services to build a DLT platform. They wanted to offer a B2B infrastructure & Blockchain Network to reduce and/or remove interdependencies. The solution will be the back-bone of the Network DLT & ILP Connectors supporting decentralized, seamless and faster of cross-border payments.
Developed a platform for trade transactions of different assets without intermediaries
Designed for interoperability through multiple banking systems
Inter-ledger protocols connectors
Integrate connectors with bank’s DLT platform
Separate UI for each user to perform operations based on the roles:
o Bank Customer (Corporate/ Investors)
o Issuer/ Banker Services
Dashboard/Home: Trade Orders Summary and other facts & figures
Trade Dashboard: allows tracking and tracing of tokenization lifecycle
Documents Management: allows to manage and access trade order wise commercial papers like maturity, yield, risk-level, total outstanding amount, etc.